Baozun's transformation continues despite wider first quarter loss

Baozun Inc. (HKEX:9991) announced its unaudited financial results for the first quarter ended March 31, 2025, showcasing a 4.3% increase in total net revenues to RMB2,064.4 million. The growth was primarily fueled by a 23.4% surge in revenue from Baozun Brand Management (BBM), offsetting a slight decrease in services revenue. E-Commerce product sales rose by 7.3% to RMB423.2 million, led by strong performance in home furnishing, alcohol, and health & nutrition categories.